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'Golden age' of pawnshops
The Roanoke Times    Share   Share on FacebookTwitterShare on LinkedinE-mail
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The back room of Vinton Pawn Shop Inc. in Roanoke, Va., looks like a pirate's cove, a hardware store and grandma's attic combined as one. It has shelves of fishing poles, chain saws, weed whackers, hunting rifles, guitars in cases, vaults of engagement rings and gold necklaces, a slot machine and a Rascal scooter. With 13,000 square feet of storage, there's hardly room for more stuff. Shops such as Vinton Pawn straddle the line between banking and retail — two business models that have been less than stagnant in the past year. More



SXSW: Pawnshop unleashes mother lode of music gear in Austin, Texas
Wired News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
From the outside, Cash America Pawn in Austin, Texas, looks like any other pawnshop — a place where the down-and-out and desperate wheel up to sell mom's jewelry. … Behind the counter and through the doors leading to the back room, there hides a treasure trove of musical delights. Cash America Pawn has been stashing musical gear in anticipation of the South By Southwest Music conference and festival. The store has been hoarding select gear for an entire year — since last year's edition of SXSW — and will move its inventory onto the sales floor, the day the music portion of the conference gets under way. More

Help in hard times: Pawnshop sees business increase
The Louisville Courier-Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Mel Davis thumbed through the ledger his parents used when they opened their pawnshop in 1936, in the depth of the Great Depression. The pages, crisp and stained with age, are filled with neat little squares in which his father, S.E., kept detailed notes. "Buddy Smith, $1. What did he pawn? A fountain pen. Here's a wrist watch for $1; a blue suit for $4," Mel said. More

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Bronx pawnshop offers cash and condoms
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Talk about a stimulus plan. The roll-down gate at Gold Life Jewelry, on East 161 Street cater-corner from Yankee Stadium, lures customers with a come-on to take advantage of crazy gold prices to offset falling incomes. But if cold cash for junk jewelry won't clinch the deal, consider the not-so-fine print on the gate below the gold offer: "O did I mention you can get free condom from me." More

Customers complain of gold-buying scams
PARADE magazine    Share    Share on FacebookTwitterShare on LinkedinE-mail article
As a growing number of Americans seek to trade their valuables for cash, many say they’re getting swindled. The Better Business Bureau has received hundreds of complaints about companies that ask customers to mail in their gold, then offer to pay what the company decides the gold is worth. The Federal Trade Commission is now reviewing charges of cash-for-gold scams, and the attorney general's office in Florida — where many mail-in companies are located — is investigating. More

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Entrepreneur opens Grand River pawnshop in Michigan
Lansing State Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Tyler Selph had an idea that the eastern edge of Ingham County in Michigan could be well-served by a pawn store. He's brought that vision to fruition with the opening of Cash 4 Pawn Anything. It's a service Selph believes is useful in tough economic times — one that convinced him to make the jump from selling cars at Spartan Toyota to opening his own business. More

Atlanta City Council passes new guidelines for pawnshops
The Atlanta Journal-Constitution    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Atlanta City Council voted to add new regulations concerning where new pawnshops can operate. The council agreed that pawnshops cannot be located within 1,000 feet of a public or private school, a house of worship, day care center, park, hospital or library. The new regulations do not apply to pawnshops currently in business. More

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Pawnshops withstanding weak economy in Newark, N.J.
The Newark Advocate    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The current economic slump hasn't meant a spike in business for pawnbrokers, but owners say their shops are holding their own. "It's been pretty steady," said Tim Mentz, owner of T.E.M. Pawn Shop in Newark, N.J. "We did well before, we're doing well now, and we think it's because we respect our customer." More

Gold falls in New York
Bloomberg via BusinessWeek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold declined in New York as the dollar continued its advance and India's interest-rate increase dampened investor demand. The dollar traded near a three-week high against the euro on concern the European Union will fail to agree on an aid package for Greece. More



In the market for gold
Kerrville Daily Times via istockanalyst.com    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With gold trading at more than $1,000 an ounce these days and various companies advertising "cash for gold" deals to people willing to part with old, unwanted jewelry, it might seem an easy way to pick up extra money in a down economy. But experts advise that it's important to do your homework before trading in. More

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Some options for selling unwanted stuff
The Associated Press via Google News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Spring for many homeowners means confronting all the things that have filled up the closets, basement and garage over the past year. As the late comedian George Carlin used to say: "Your house is a pile of stuff with a cover on it." Today, because of the Internet and the recession, there are more options than ever for trying to sell used items. To newspaper classified ads, garage sales and flea markets, add Facebook, Craig's List, eBay and other online trading sites. To pawnshops and consignment shops, add an expanding array of resale stores that pay cash on the spot. More

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